Vice Chairman Cho Hyunsang of HS Hyosung Presides Over 2nd ABAC Meeting in Canada

Emphasizing Economic Cooperation in the Field of AI and Beyond

Vice Chairman Cho Hyunsang of HS Hyosung, as the chair of the Asia-Pacific Economic Cooperation Business Advisory Council (ABAC·APEC Business Advisory Council), presided over this year’s ABAC 2nd meeting held in Toronto, Canada. Vice Chairman Cho led private sector diplomacy by emphasizing global cooperation in the field of artificial intelligence (AI). He also encouraged key figures from various countries to participate in the APEC Summit to be held in Gyeongju this October.

Vice Chairman Cho presided over the 2025 ABAC 2nd meeting from the 23rd to the 26th, local time, discussing avenues for cooperation. Starting with the ABAC Chair Opening Meeting and the ABAC Member Welcome Dinner, he led working group meetings in five sectors to address major economic issues and cooperation strategies. During this meeting, various opinions were presented regarding the impact of increasing uncertainty in the international trade order on the economy and business activities in the Asia-Pacific region.

Vice Chairman Cho Hyunsang of HS Hyosung (second from the left) attended the 2025 ABAC 2nd meeting held in Toronto, Canada, from the 23rd to the 26th. HS Hyosung

Vice Chairman Cho consolidated the opinions from the meeting and formulated a message to be delivered to the trade ministers of the 21 member economies. He also highlighted the importance of sustainable growth through free and open trade, and as a practical improvement measure, proposed expanding the scope and eligibility of the APEC Business Travel Card.

In addition to his ABAC activities, Vice Chairman Cho continues to work on strengthening economic cooperation between Korea and the United States. In December last year, he attended the Korea-U.S. Business Council meeting, and in February this year, he visited Washington, D.C. as part of an economic delegation, where he met with key figures from the U.S. political and business sectors. At these meetings, he noted that Korea is one of the largest investors in the United States, proposed contributions to stabilizing supply chains and the need to update the calculation method for trade balances, and submitted related suggestions to the Korean government.

Vice Chairman Cho plans to continue discussions by attending the 3rd and 4th ABAC meetings to be held in Vietnam in July and in Busan in October, respectively. The opinions of ABAC members gathered at the four annual meetings are delivered to the leaders of the 21 member economies, with the aim of reflecting them in policy decisions.